201 E Main St

Henryetta, OK 74437

$33,000B+

2 bd · 1.0 ba · 1,126 sqft · Built 1930 · SingleFamily · Active · 356 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $977/mo
• Mortgage (P&I): −$173
• Tax + insurance: −$462
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $137/mo
• Annual: $1,641/yr
• Cap rate: 26.78%
• Cash-on-cash: 73.15%
• DSCR: 4.25
• 1% rule: 2.96%
• Cash to close: $9,240

Investor read

• This is a 2-bed/1.0-bath single-family listed at $33k.
• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($977 rent vs $33k).
• It's been on market 356 days — a 12% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $29k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($228 loan paydown + $3k appreciation (10.0% local appreciation)).
• Location reads 54/100 on livability (#589 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Henryetta (town): math 11% / reading 19% proficiency, ranked #228 of 270 in OK (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Henryetta Es (math 13% / reading 19%, grade F, #582 of 845 statewide, top 69%, 529 students, 0% FRL); Henryetta Ms (math 7% / reading 20%, grade F, #252 of 345 statewide, top 74%, 242 students, 0% FRL); Henryetta Hs (math 12% / reading 22%, grade F, #314 of 447 statewide, top 72%, 301 students, 0% FRL) — zoned schools average 0% FRL vs 65% district-wide (65 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $427/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 90 active listings in the ZIP; 12 units permitted in Okmulgee County in 2024 (0 in 5+ unit buildings).
• Okmulgee County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $26k (44%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $33k implies a 65% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 356 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.